Print Course syllabus
Course syllabus - Simulations and forecasting of electricity markets
Scope
7.5 credits
Course code
ERA318
Valid from
Autumn semester 2026
Education level
Second cycle
Progressive Specialisation
A1N (Second cycle, has only first-cycle course/s as entry requirements)
Main area(s)
Energy Engineering
Organisation
Department of Engineering Sciences
Ratified
2021-01-22
Revised
2025-11-03
Literature lists
Course literature is preliminary up to 8 weeks before course start. Course literature can be valid over several semesters.
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Topic based lectures, materials will be provided for each topic.
Objectives
The aim of the course is to provide basic knowledge on the electricity market structure and on how the market works through numerical simulations. The students will be able to predict the demand and determine the productions from different technologies of electricity generation, based on which to understand how the electricity is traded and how the price is determined.
Learning outcomes
- Understand day ahead market, intraday market, and balancing market
- Assess the participation in different markets considering real prices
- Independently and critically analyze and evaluate energy generation and distribution systems
- Predict the electricity demand with simple machine learning methods
- Integrate knowledge about markets, demand prediction and simulation to optimize an energy system/process
Course content
Structure of electricity market
Electricity trading and pricing
Modelling of power generation technologies
Electricity market simulation and optimization
Demand forecasting
Specific requirements
120 hp including 90 hp in engineering or science including 7,5 hp mathematics. In addition, Swedish course 3 or Swedish level 3 and English course 6 or English level 2 are required. For courses given entirely in English exemption is made from the requirement in Swedish course 3 or Swedish level 3.
Examination
INL1, Assignment, 4 credits, grade Pass (P) or Fail (F). Learning outcome 2-5
PRO1, Project, 3,5 credtis, grade 3, 4 or 5. Learning outcome 1-5
A student who has a certificate from MDU regarding disability study support, can request adaptions for the examination. It is the examiner who takes decisions on any adaptions, based on the certificate and other conditions.
Grade
Grading scale: 5, 4, 3
Interim Regulations and Other Regulations
Overlaps with ERA306, 4 credits